Accountants add to 2 firms' profiles

Friday

Jan 18, 2013 at 2:00 AM

TOWN OF WALLKILL - The merger of Levitan, Yegidis & Associates and a larger Newburgh accounting firm sets the stage for Woody Levitan's eventual retirement. But in the meantime, Levitan will continue as a consultant at Vanacore, DeBenedictus, DiGovanni & Weddell. On Jan. 1, that firm merged with Levitan's. The terms of the deal were not disclosed. Levitan, Yegidis & Associates, started by Levitan in 1972, is now a division of the larger firm but is keeping its name.

Jessica DiNapoli

TOWN OF WALLKILL — The merger of Levitan, Yegidis & Associates and a larger Newburgh accounting firm sets the stage for Woody Levitan's eventual retirement.

But, if his plans for a cold, wet afternoon are any indication, he's not slowing down any time soon. Wednesday morning, Levitan planned to swap his suit for clothing better equipped for rural Ulster County, where he was meeting with a client for intensive strategic planning.

The visit is part of Levitan's job as a high-level consultant for clients. He'll continue in that role at Vanacore, DeBenedictus, DiGovanni & Weddell. On Jan. 1, that firm merged with Levitan's.

The terms of the deal were not disclosed.

Levitan, Yegidis & Associates, started by Levitan in 1972, is now a division of the larger firm but is keeping its name.

The merger bumps up Vanacore's head count to 76, including the six who came from Levitan's organization, said managing partner Tom Weddell. Even before the merger, Weddell's firm was one of the largest from Albany to White Plains, he said.

In addition to its Newburgh headquarters, Weddell's firm has offices in Wappingers Falls and Tarrytown.

The merger gives Vanacore a stronger footing in western Orange County and Rockland County, Weddell said.

The company also has room to grow in that region.

Weddell plans to more than double the staff in the Town of Wallkill office to 15 CPAs over the next few years.

The marriage of the two firms appears to be made in heaven — or at least by a highly skilled matchmaker with a background in accounting.

Both firms mostly cater to businesses with annual revenues between $5 million and $50 million. Each also works extensively with manufacturers, among other specialty niches.

It's a bit unusual for a small firm such as Levitan's to boast clients with annual revenues of $5 million and higher. Levitan built his firm's reputation through involvement in countless civic and business development organizations.